Punch Taverns plc is a United Kingdom-based pub company. The Company is engaged in the operation of public houses under either the leased model or as directly managed by the Company. The Company operates in two business segments: punch partnerships, a leased estate and punch pub company, a managed estate. Punch Partnerships is the Company�s leased division, comprising 5,967 pubs nationwide. Punch Pub Company is its managed division, comprising 803 pubs nationwide. The leased model involves the granting of leases to tenants who operate the pub as their own business, paying rent to the Company, purchasing beer and other drinks from it and entering into profit sharing arrangements for income from leisure machines. Pubs that are directly managed involve the employment of a manager to operate each managed pub. On February 10, 2010, the Company disposed of Safe Jumper Limited. In August 2011, the Company demerged its Spirit business to Spirit Pub Company plc.